Low profits expected as property companies count losses
Locally listed property companies have told their shareholders to expect reduced profits as a result of recent Covid-19 lockdowns as shops were closed for almost two months.
New African Properties (NAP), whose flagship properties include Riverwalk shopping mall in Gaborone, has told its shareholders that it expects its profits before to be between 25 percent to 35 percent (P52 to P73 million) below the P209 million reported for the prior year.
The decline is reportedly due to the impact of the non-distributable components of profit...
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In this article:Business, Covid-19, Game City Mall, Letlole La Rona, New African Properties, Riverwalk Shopping Mall, Tanzania, Turnstar Holdings Limited
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